/biz/ - Business & Finance

You get the sense you're mortal and start given no fucks cuz of that. Unfortunately I stopped doing drugs and eating shit in my midtwenties so I haven't come to the realization yet. Debtless life ain't easy

>>54982344
They are desperate to pretend they are 'keeping up' with everyone around them. E.g. weak failures.

>>54982507
E.g. that's not how you use e;g. you e.g.iot

>>54982344
I guess they realise once you're already locked in to a 30 year mortgage, or whatever, what's another $50 grand here; $20 grand there, etc. You'll likely be in debt until you retire or die, anyway.

>>54982344
it's called "keeping up with the joneses" or "keeping up appearances"
>>54982507
this.

>>54982547
I.e. I don't care

>>54982561
You know that's not true

>>54982344
Debtmaxxer where the biggest winners the last 15 years.

Lowest intrest rates in history, which allows them to buy goods that have rise in price and allow extra money for investments that went parabolic.

Meanwhile the frugal people lived like bottemfeeders and saw their saving getting rekt by inflation.

Don't feel superior, feel inferior.

>>54982575
Ok I care deeply, how can I redeem sir

>>54982602
Yea well, most people here took the debtmaxx route right after corona and continue to do it even in this climate

>>54982602
>Meanwhile the frugal people lived like bottemfeeders and saw their saving getting rekt by inflation.
The difference between post-inflation investment gains, and consumer debt interest rate is like what 2-3%?
Imagine gambling your life for 2-3%.
Imagine saying
>Don't feel superior, feel inferior.
just because people who gambled their life for 2-3% per year made it out unscathed.

>>54982618
Have you read books about the Weimar period? The US banking system in the 1700-1900 etc. Having debt locked in at a low interest rate is a smart move.

Inflation will get partly compensated with rising wages, which will cause houses to rise in price.

What will get interesting though is a lot of people locked their mortgage for 10 years in the country I live in. Within 8 years they will get a higher variable interest rate.

>>54982610
Wear headphones this time when you watch animes while I have dinner with your mum

>>54982660
I don't mind loud chewing

>>54982344
normies have to "keep up with the joneses" is what they call it. basically if other normies have cars and houses and are out drinking every night then so must you, whatever the cost. because its normal, which means good.

>>54982669
Yeah, but you know how your mother is. She can't concentrate when somebody's listening

>>54982645
The difference is bigger.

Someone who bought a house 4 years ago for 400k has now a house of 600k and had extra money to put into investments that have rise more then 30%.

There where stories of people selling their car for more money then they bought it for etc.

In hindsight you should debtmax when the government is doing monetary easing and bringing 50% more currency in circulation.

>>54982684
So these people are the true winners? Even now? And the banks lose money?

>>54982344
Maybe your friends are poor. Debt can be good though. I bought a fridge with no payments for 24 months. The money I would have spent on the fridge I have invested. It's the time value of money that you need to consider. If you can delay payment and invest it in the meantime, that's good. And if you can borrow and invest and get a net return after paying interest, that's also good.

>>54982705
You finally realized you are a midcurver. Congratulations

>36
>Modest house, mortgaged, but have enough cash to pay off if I wanted
>Considering debtmaxxing for big house
The temptation is to improve QOL for the kids. Don't want to keep up with the Jones' just for the sake of it, more like I feel bad that my kids have to suffer when the Jones' kids don't.

>>54982732
>>54982725

Most people who debtmaxx here are low income factory workers and work at construction sites

>>54982745
The definition of the leftcurver

>>54982756
>>54982732

So can debt slavery exist in any situation? Or are the debtmaxxers always the ones who win in the end?

>>54982767
Only ones win are left and rightcurvers. While midcurvers fall for means like "debt slavery" while watching the others profit from it to finally give in without them realizing the macro environment has changed which leaves them holding the bag

>>54982344
maybe its normal in burgerland but it certainly isnt in my country (austria)

>>54982344

Once you hit steady state and you get into a career you can see yourself working for the next 30 years you feel comfortable taking on a ton of debt.

>>54982804
Are these terms midcurver, leftcurver terms based on the images circulating as those Wojak graphical charts? Or are they also used in an academic setting?

>>54982828
So there is no way to lose? Why so many people take great pride in being 'debt free' and even celebrate it, while in reality they should only take more debt?

>>54982834

Most people don't consider their mortgage debt. There are not many assets you can own at a 1/5 leverage with sub 5 rates. Inflation alone erodes the cost of borrowing, and there are tax deductions on top of that. Imagine if you bought before interest rates went up, I'm sitting on ~500K of home loans at ~2.9%. My money sitting in the bank yields 4.65%.

Aside from maintenance costs most people assume they will be able to 'exit' out of their 'investment' in their home at a decent value.

Car loans are a different matter, yeah that's just people splurging once they're comfortable.

Consumer debt beyond that for general spending is stupid, that's living beyond your means.

>>54982872
Is there psychological component to owing and detb in general? Friend of my told me that he sometimes wakes up middle of night and worries sick about death to the point that he has to eat benzodiazepines to get sleep and get to work next day

Or are these just weak minded individuals?

>>54982872
>>54982872
Is there psychological component to owing and having debt in general? Friend of mine told me that he sometimes wakes up middle of night and worries sick about debt and how much money he owes to the point that he has to eat benzodiazepines to get sleep and get to work next day well rested

Or are these just weak minded individuals?

>>54982831
Natural law of the universe condensed in a metaphor a midcurver like you can understand
>>54982834
No bro they said it. It depends on the time in the cycle. You'd be too late now, but that you think of it confirms the law

>>54982893
You might wanna get rid of that phaggot

>>54982897
>Natural law of the universe condensed in a metaphor a midcurver like you can understand

So they are derived from those wojack charts that represent 'midwits' and divide the masses of people into three wojack type of categories?

>>54982883

Some people have better appetites for risk and understanding it.

If you're overleveraged and being unemployed for just a month could mean losing your house, or severely messing up your family then I could understand the stress. That's walking the line too close.

But generally having big debt like a mortgage is supposed to be comforting. That's a fixed payment you know will be the safe for the next thirty years. You can plan around your living costs being somewhat stable.

As long as you have some emergency cash or maybe some outside help like parents to fall back on you shouldn't be living in panic.

I can imagine bootstrapping with no help can be tough.

>>54982652
wages haven't kept up with inflation though. With globalization, outsourcing, immigration etc wages developed countries haven't come close to keeping up with it. Assuming your going to get a raise equal to inflation is pretty risky these days even using their bullshit gov number for inflation. Could get worse depending on your sector too with more layoffs hitting everyday.
Theres no easy answer in life and no one solution for everyone. It was smart for some people to take out fixed rate mortgages it was dumb for others.

>>54982344
Yup. Debtmaxx. 30 year home loan, 2 car loans, credit cards, going out, child care, etc.

I'm single so I went full rice and beans mode with investing. My goal is to live off dividends

Also get rich quick schemes don't work. You have to put in the work, work on your career and get smart

>>54982907
Stop pretending being stupid. You wish you were but you're not a leftcurver.
The meme is the depiction of the law much like the periodic table is the depiction of the properties and behavior of matter.

>>54982959
But your categorization doesn't make sense. 77% of American households and adults have at least some type of debt

According to you, only "midcurvers" would not take debt as is implied by your wojack-chart references

However, what you are implying is opposite/negative to the bell curve in terms of the amount of masses falling to the broad categorization

Yet you call people who don't have detb, don't take debt as typical leftcurver (despite populaton statistics do not agree with you).

Answer this: do you disagree with the statistical fact that the so-called 'midcurvers' have the largest amount of detb compared to those on the left and right?

>>54982344
>>54982507
Some men from my generation failed hard in their teens and twenties, but without having anything to lose in their thirties went into debt, risked the risks and got off better from it nearing end of thirties.
Man when you're like 32 if you cannot show up somewhere some evening in a suit, shirt, leather shoes, dressed up and equipped for occasion, and at least that one night smack it out of the park for a homerun when will you do it?
At 42? at 52?

And whatever you do, literally whatever you are invested in from selling potted plants to fucking rich old ladies pr sp,e mundane shit like low tier accountant or even construction and everything in between. If you buy in the ante and blinds, like a Deano , its doesn't matter its not yours, it doesn't matter if its all like a house of cards, women don't care, lady luck doesn't care, opportunities are snatched by the ones in the right place in the right time with the right gear for the scene.
Faker dressed up properly, in a leased Audi, from a rented apartment, with cut coke you still didn't pay of, smelling of expensive perfume he cannot really afford, etc. snatches the opportunity when he is 30+.

Not the real deal honest hard working down to earth lad. I can tell you what snatches the honest down to earth one too, but its a more sad story.

>>54983048
Read again it's all explained by others before me and I explained it again. It's all about the timing, Einstein. Also lol that you tried that no-question thing. You're literally are the epitome of midcurve

The way I look at it is, if I'm not gonna get pussy then might as well spend all my money. Even if I did manage to impregnate a roastie, I wouldn't leave shit to her or the bastard child

>>54983092
Why are you dodging the question? It's a statistical fact that most people who took "debt" the right time were midcurvers considering vast majority of people, who are in debt, fall into the mid curve in terms of statistics

You really don't see anything wrong with your logic?

>>54983072
>Faker dressed up properly, in a leased Audi, from a rented apartment, with cut coke you still didn't pay of, smelling of expensive perfume he cannot really afford, etc. snatches the opportunity when he is 30+.

ya I don't care about any of this shit wtf?

>>54982344
I recently took out a 2 year loan to make a home improvement.

It was an unsecured loan so if I ever default on it, literally the only bad thing that happens to me is that my credit score gets hurt for 7 years. Which doesn't even matter because I already own my home and won't be likely to buy a new car in the next 7 years either.

Loans are great when the risk is all on the bank.

>>54982893
There's literally no reason to worry about debt, as long as you don't spend beyond your means.

Worst case scenario, you can sell your house to repay mortgage and rent for a bit, so long as you are not negative equity. Unsecured debt, who cares, they can't garnish wages in UK.

People just do what other people around them are doing, there is no grand detailed thinking. Basically signing a contract saying "Yes, i WILL wagecuck non stop for the next 20-30 years" and then complain how they have to work all the time, unironically.

>>54983104
The Eternal Horror of the Overanalyzing Mind

>>54982559
No it's not man it's called needing to buy a house to actually start a family and needing to buy a house that's not 2+ hours out of the cbd where there are no jobs. Here in Australia it's fucked and it's all by design. Soon enough all houses will be owned by giant companies and you'll live in the pod. That or they'll just let another million poos and chinks buy up the low stock of houses while adding further regulations to make even putting a garden shed in your back yard impossible. Yes there's going to be consumers that need to keep up with more cars more shit but at least from what I see that's pure boomer bullshit. I'd happily live in my self constructed shed outside but go through and get fucked by the council

>>54982344
I hate that as someone with $2 million in cash saved at 27 my lifestyle is literally the exact same as these people. We buy the same things, live in the same houses, etc. It feels like there is 0 benefit to me having a positive net worth at all except maybe I retire much younger, still probably over 40.

>Is it normal?
In clownworld it is.
Imagine someone came along and introduced inheritable debt.
That would be the punchline of the joke wouldn't it.
But who would play such an evil trick?

>>54983189
You were degen enough to make 2M at 27 but expect to retire only in 10+ years? Move to Europe if you are not black

>>54982344
im in my 30s and didn't do any of this

>>54982725
This nigga gonna get his fridge repod. Like he is going to lose his job and the fridge people are going to take his fridge away. What a fucking failure. Own your shit.

>>54982602
>buy plywood box for $200k
>5 years later, plywood box worth $250k (+25%)
>cost of everything else is up +25%
>still on the hook for another 25 years of mortgage payments
yeah anon you sure came out ahead

tap water

>>54982936
>live off dividends
baby boomer mentality, the stock market is a ponzi propped up by endless QE. Not sustainable on the long run

>>54982344
paying interest is much better than paying principal, that is the perplexing nature of our modern economics
you get rewarded for taking smart risks long term and that is how it should be
imagine if everyone sat on cash there would be nothing